RCAC: AH Dwindling for CA Workers

Rural Community Assistance Corp., West Sacramento, Calif., says a growing number of working Californians are being priced out of the ranks of homeownership.RCAC said the housing boom of 2005 "drastically improved" the net worth of many homeowners, but also pushed "a record number of working Californians into the already huge group that can't afford to buy a home." RCAC recently released a top-10 list of Workers in California Who Can't Afford a Home, which included police officers, firefighters, teachers, nurses, construction workers, and truck drivers. William French, RCAC's chief executive officer, said it was no surprise that many people are unable to afford a home. "What was startling, however, was the increased number of hard-working Californians -- with what are considered good-paying jobs -- who cannot currently qualify to own a home in this state," Mr. French said. The organization can be found online at http://www.rcac.org.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry